Gryphon Digital Mining, a bitcoin (EXANTE: Bitcoin) mining operation company focused on renewable energy, has announced a merger agreement with Sphere 3D to buy 7,200 Antminer S19j Pro miners from Bitmain for a total of $48 million. According to a press release, Bitmain plans to supply 600 ASICs every month starting from August this year.
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The new miner boasts a maximum hash rate of 100 TH/s combined, with an industry-leading energy efficiency ratio of 29.5 J/TH, and an expected life cycle of over five years, the company said.
Gryphon also signed an agreement with one of the largest digital currency data centers in the world to access electricity costs as low as $0.013/kWh. However, it remains unclear who is the counterparty of the deal. Earlier, Gryphon Digital Mining announced plans to gain public status through a reverse merger with data management provider Sphere 3D.
As iHodl reported in April, The9, a Shanghai-based online game operator, also announced plans to buy 2,000 units of AvalonMiners with a total hash rate of approximately 100PH/S. To buy the rigs, the company issued over 8 million Class A ordinary shares, which prior to signing of the agreement valued the deal at $6.72 million.
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